(Photo credit: David Reginek-Imagn Images)

After an extended legal battle, the city of Cleveland and the Haslem Sports Group, owners of the Cleveland Browns, announced Monday that they have reached an agreement that will allow the team to build a new domed stadium in nearby suburb Brook Park.

As part of the deal, HSG agreed to pay $100 million to the city of Cleveland to cover the cost of the demolition of the current lakefront stadium in downtown Cleveland and 'accelerate the lakefront transformation and prepare the current lakefront stadium site for redevelopment and the City's commitment to support the continuing progress and timely completion of the Browns' future home in Brook Park,' according to a press release announcing the deal.

'I'm proud to deliver this historic deal to the residents of the City of Cleveland,' Cleveland mayor Justin Bibb said via statement. 'My administration, with the Haslams' support, will finally unlock the full potential of our lakefront, benefiting all residents and attracting new investment to the City.'

The terms of the deal dictate that HSG will pay the city a lump sum of $25 million by Dec. 1, 2025, pay for the demolition of Huntington Bank Stadium to a pad-ready state (an estimated cost of $30 million), make annual $5 million payments from 2029 through 2033 and invest no less than $2 million for each of the 10 years after termination of the lease into a community benefits project.

Additionally, the agreement states that both parties will voluntarily dismiss all lawsuits related to the move with prejudice.

After the Browns announced plans last October to build a $2.4 billion stadium in Brook Park when their current stadium lease ends at the end of the 2028 season, the city of Cleveland sued the Browns in January, citing the 'Modell Law.'

That Ohio law, created in the wake of owner Arthur Modell moving the former Cleveland Browns to Baltimore in 1995, states that any professional sports owner that uses a taxpayer-subsidized facility must offer the opportunity to buy the team to the city or local buyers before moving.

The Browns counter-sued, arguing that the law was unconstitutional.

The current stadium will be demolished at the end of the 2028 season. The team plans on breaking ground on the new stadium in 2026 to prepare for a 2029 opening.

--Field Level Media